ADTRAN Holdings, Inc. (NASDAQ:ADTN) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus is “Hold”: Seven analysts cover ADTRAN, with four buy ratings, one hold and two sell ratings. The average 12-month price target is $14.67.
• Shares have weakened significantly: ADTRAN opened at $7.10, near its 52-week low of $7.04 and well below its 52-week high of $19.98.
• Recent quarterly results missed expectations: The company reported earnings of $0.04 per share versus the $0.10 consensus estimate and revenue of $281.15 million versus $290.19 million, although revenue increased 6% year over year.

ADTRAN Holdings, Inc. (NASDAQ:ADTN - Get Free Report) has earned a consensus rating of "Hold" from the seven ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.6667.

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of ADTRAN from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research lowered ADTRAN from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ADTRAN in a report on Tuesday, June 30th. Evercore set a $11.00 price target on ADTRAN in a report on Wednesday, August 5th. Finally, Rosenblatt Securities reduced their price objective on ADTRAN from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th.

ADTRAN Price Performance

NASDAQ:ADTN opened at $7.10 on Friday. The stock has a market cap of $578.51 million, a P/E ratio of -25.36, a PEG ratio of 4.38 and a beta of 1.47. ADTRAN has a one year low of $7.04 and a one year high of $19.98. The company has a fifty day moving average price of $9.75 and a 200 day moving average price of $12.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.79 and a quick ratio of 1.19.

ADTRAN (NASDAQ:ADTN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). ADTRAN had a negative net margin of 2.29% and a positive return on equity of 14.24%. The company had revenue of $281.15 million during the quarter, compared to the consensus estimate of $290.19 million. ADTRAN's revenue was up 6.0% on a year-over-year basis. Analysts anticipate that ADTRAN will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On ADTRAN

Hedge funds and other institutional investors have recently modified their holdings of the stock. Corient Private Wealth LP bought a new position in shares of ADTRAN during the second quarter valued at $278,000. Amundi bought a new stake in shares of ADTRAN in the 2nd quarter worth about $188,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of ADTRAN in the 2nd quarter worth about $391,000. California State Teachers Retirement System increased its position in shares of ADTRAN by 1,502.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,154,200 shares of the communications equipment provider's stock worth $16,043,000 after purchasing an additional 1,082,177 shares in the last quarter. Finally, Teza Capital Management LLC bought a new position in ADTRAN during the 2nd quarter valued at about $378,000. Institutional investors own 80.56% of the company's stock.

ADTRAN Company Profile

ADTRAN, Inc is a global provider of networking and communications equipment, specializing in broadband access solutions for service providers, enterprises and government organizations. Founded in 1985 and headquartered in Huntsville, Alabama, the company develops and delivers hardware and software platforms that enable high-speed Internet access over fiber, copper and wireless networks. Its core offerings include fiber access and aggregation equipment, Ethernet switches, customer premises equipment (CPE) and network management systems designed to support both legacy and next-generation broadband deployments.

The company's product portfolio encompasses a broad range of optical line terminals (OLTs), optical network terminals (ONTs), multiservice access gateways and virtualized access solutions.

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